Fact.MR’s recently published report anticipates the global talc market to reach US$ 600 Mn in 2031, projecting a CAGR worth 4.8% from 2021-2031. According to the report, the market is likely to be valued at US$ 372.7 Mn by 2021-end. Extensive applications for polymer engineering along with other end use industries will likely propel future demand.
The talc market experienced stable expansion across the 2016-2020 historical period, registering a CAGR of nearly 4%. However, temporary disruption in manufacturing activities stalled growth prospects during the height of COVID-19. For instance, Johnson & Johnson Consumer Health ceased shipping hundreds of talc powder products in May 2020, including the Baby Powder portfolio, which represents approximately 0.5% of the North American market.
Furthermore, the company has decided to permanently discontinue shipping its talc powder products to the continent. However, this will have a negligible future impact, as other application areas, including paints & coatings, will sustain talc powder demand. Additionally, manufacturers are looking to develop asbestos-free talc products, particularly for the cosmetics segment in lieu of the detrimental effects of the same on human health.
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Talc Market- Scope of Report:
A recent study by Fact.MR on the talc market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering talc.
The study also provides the dynamics responsible for influencing the future status of the talc market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the talc market, along with their product portfolios, enhances the reliability of this comprehensive research study.
Key Competitors Covered In Talc Market:
Strategic collaborations enable manufacturers to increase production and meet consumer demand which will increase revenue and market share. New products and technologies will enable end-users to benefit from products that are eco-friendly by nature.
- In February 2021, Magris Resources Canada Inc. fully acquired the assets of all the subsidiaries of Imerys’ at the price of US$ 223 million. Imerys’s talc production is regarded as one of the best ingredients used for different industrial purposes, therefore, Magris Resources Canada Inc.’s acquisition can help them to gain a major competitive advantage in the U.S.
- Minerals Technologies Inc. offers talc products for multiple end use applications- including MicroTuff® AG and MicroTalc® for polyolefins for automotive parts & appliances, Talcron® and Sericron® talc series for paints & coatings and MicroTalc® and UltraTalc® for pharmaceuticals, foods and body powders respectively.
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Key Segments Covered In Talc Market:
-
By Form :
- Powdered Talc
- Talc Lumps or Granules
-
By End Use Industry :
- Agriculture
- Ceramics
- Pharmaceuticals
- Paints & Coatings
- Cosmetics
- Pulp & Paper
- Food
- Other End Uses
-
By Deposit Type :
- Talc Chlorite
- Talc Carbonate
- Other Talc Deposit Types
Key Reports from the Market Study:
- By form, powdered talc likely to surpass US$ 500 Mn in value by 2031
- Ceramics to remain an important end use industry, capturing over 1/4th of global demand
- Paints & coatings to be the fastest growing segment, expanding at 5% CAGR through 2031
- Talc carbonate deposits to generate absolute opportunity worth US$ 224 Mn through 2031
- 30% of talc sales to be led by the North American market
- Asia to emerge as the largest talc market, accounting for half of the global revenue
- Europe to account for at least 1 out of 5 talc sales across the 2021-2031 forecast period
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